The Goldman Sachs Group Cuts Magna International (NYSE:MGA) Price Target to $48.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective cut by The Goldman Sachs Group from $56.00 to $48.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

MGA has been the subject of a number of other reports. BMO Capital Markets cut their target price on Magna International from $67.00 to $65.00 and set an outperform rating for the company in a research note on Monday, February 12th. UBS Group increased their target price on Magna International from $59.00 to $60.00 and gave the stock a neutral rating in a report on Wednesday, January 17th. Wells Fargo & Company decreased their price target on shares of Magna International from $52.00 to $49.00 and set an equal weight rating on the stock in a research note on Monday. Barclays dropped their price objective on shares of Magna International from $63.00 to $62.00 and set an equal weight rating for the company in a research report on Thursday, April 11th. Finally, Royal Bank of Canada decreased their price objective on Magna International from $61.00 to $60.00 and set a sector perform rating on the stock in a research report on Monday, February 12th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $60.00.

Magna International Stock Up 1.0 %

Shares of Magna International stock opened at $47.08 on Monday. The business’s fifty day moving average price is $51.55 and its two-hundred day moving average price is $53.84. The company has a market capitalization of $13.53 billion, a P/E ratio of 13.38, a PEG ratio of 0.47 and a beta of 1.69. Magna International has a 1-year low of $45.75 and a 1-year high of $65.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.97%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.97 billion. During the same quarter last year, the business earned $1.11 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts forecast that Magna International will post 6.13 EPS for the current year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.475 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.04%. Magna International’s dividend payout ratio is 53.98%.

Institutional Trading of Magna International

Several hedge funds have recently added to or reduced their stakes in the business. S.A. Mason LLC boosted its holdings in shares of Magna International by 24.4% in the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after buying an additional 229 shares during the period. Van ECK Associates Corp increased its holdings in Magna International by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock worth $192,000 after purchasing an additional 312 shares in the last quarter. UMB Bank n.a. increased its holdings in Magna International by 13.0% during the 1st quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock worth $165,000 after purchasing an additional 350 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after purchasing an additional 526 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.